Bestow life insurance, designed for the contemporary customer, reduces the time and cost of purchasing life insurance, making it a simpler and more convenient transaction. If you fulfill the profile — that is, you are healthy and between the ages of 18 and 60 — you should be able to breeze through the application. Compare life insurance providers if you have complex demands or wish to modify your coverage with riders.
- Bestow life insurance details
- What factors influence my Bestow life insurance rate?
- How to Get a Bestow Life Insurance Quote
- I’ve signed up for Bestow life insurance. Now What?
- What kinds of life insurance policies does Bestow provide?
- What riders can I add to my Bestow life insurance policy?
- Bestow life insurance reviews and customer support
Bestow life insurance details
Bestow is an insurtech company that specializes in term life insurance. It was established in 2017. Bestow, founded in Dallas, aims to overcome the major barriers to life insurance — time, money, and medical exams — by offering instant coverage online. It does away with the medical exam in favor of technology and big data, and it uses algorithms to underwrite policies in less than 10 minutes.
Bestow is one of a few companies that is shaking up the insurance industry by using analytics to evaluate risk. Bestow has partnered with the North American Company for Life and Health Insurance, a financial giant that issues insurance and oversees claim payouts on Bestow’s behalf.
Bestow made headlines in early 2018 when it received $15 million in Series A investment, increasing the company’s total capital to more than $18 million. Melbourne O’Banion, the team’s CEO, has led the team’s statewide expansion since then. Bestow’s insurance is now available in 40 states throughout the United States.
What factors influence my Bestow life insurance rate?
Your premium is determined by factors like as your age, health, lifestyle, career, and interests, as well as the length and quantity of coverage you select. Bestow saves its best rates for the least risky candidates and considers the following criteria:
- Tobacco use. To qualify for the highest rate class, you must demonstrate that you have not smoked tobacco in the last five years.
- Age. Young, healthy candidates typically qualify for lower premiums.
- Gender. Women have a longer life expectancy than males, hence they pay cheaper insurance rates.
- Driving record. You’ll probably get a better premium if your recent record is clean of serious traffic offenses and DUIs.
- Criminal history. People with a criminal record will have a more difficult time obtaining coverage.
- Health. The insurer considers your cholesterol, blood pressure, BMI, and family medical history to evaluate your odds of outliving your insurance. Bestow will most likely refuse coverage if you have had an organ transplant or have one of the following health conditions: heart disease, stroke, cancer, HIV, renal illness needing dialysis, and diabetes before the age of 40.
- Occupation. Some occupations are riskier than others. Firefighters, fishers, roofers, loggers, and electrical power-line installers will face increased pay.
- Hazardous lifestyle. Do you enjoy high-risk activities such as scuba diving, race car driving, rock climbing, or leisure flying? Do you visit risky or war-torn countries? To compensate for the risk, the insurer will charge a higher premium.
- Alcohol and drugs. Bestow is unable to provide coverage to anyone who have a history of alcohol or drug misuse.
How to Get a Bestow Life Insurance Quote
Bestow allows you to receive a quotation, sign up for, and purchase your insurance all online.
- Click Let’s Get Started or Get Quote from Bestow’s site. Then input your gender, birthday, height, weight, and state of residency before clicking Get a quote!
- You will be given an adjusted quote. Choose your chosen quantity of coverage and term duration. If you’re satisfied with your new quote, click Start Application.
- First, you must establish an account by entering your your address and creating a password..
- Then, as you go through the application, provide personal, health, and lifestyle information. When you’re done, click Submit Your Application.
I’ve signed up for Bestow life insurance. Now What?
If you are authorized, you will need to confirm the amount of coverage and the duration of the policy’s term before entering your credit card information to complete the transaction.
What kinds of life insurance policies does Bestow provide?
Bestow Insurance Company provides term life insurance. You may choose from a range of coverage levels ranging from $50,000 to $1.5 million, with terms ranging from 10, 15, 20, 25 or 30 years in length. For as long as your insurance is in effect, your premiums will remain the same as before. Term life insurance plans, on the other hand, are non-renewable, which means that if you still want coverage at the end of the term, you will need to reapply for a new policy.
What riders can I add to my Bestow life insurance policy?
Bestow does not enable policyholders to modify their coverage with riders in order to avoid confounding the algorithms that run on the platform. If you wish to add typical riders to your policy, like as a waiver of premium, you’ll have to go elsewhere for coverage.
Bestow life insurance reviews and customer support
Bestow has been a certified member of the Better Business Bureau since 2017, and it has received an A+ rating for its operations and level of customer service. Over the previous three years, the Better Business Bureau has received three complaints, which is a modest number for an insurance firm. Customers have given the insurer a rating of 1.75 out of 5 stars, however this is based on only a small number of reviews.
Bestow has received 4.8 out of 5 stars on TrustPilot, which is based on 500 reviews. Users have praised the simple application procedure, excellent customer service, and ability to obtain immediate coverage, while others have expressed disappointment in the lack of permanent policy.
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